News
Insurance regulatory news, 22 February 2021
22 February 2021
Recent regulatory developments of interest to insurers and their intermediaries. See also our Financial institutions general regulatory news in the Related Materials links.
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The implications of technological developments like digitalization and its impact on distribution channels, the challenges of new risks such as driverless cars, the effects of Obamacare on health insurers, and the threat of cyberattacks on insurers businesses and the policies they underwrite are providing risk and opportunity alike.
We are helping our clients across the broadest range of issues, from navigating them through an increasingly complicated regulatory environment, to assisting them in reshaping their business, stimulating growth and taking advantage of consolidation in the insurance market through M&A opportunities, defending them in litigation and arbitration, and assisting them with regulatory investigations and sanctions advice.
As the burden of compliance increases along with the speed of regulatory developments, clients particularly value the wealth of experience we provide, having been embedded in the insurance industry for more than 30 years. Clients also appreciate the regulatory insight we can give thanks to our strong working relationships with the relevant government bodies across continents.
Advised Equitable Life on Part VII transfer of £4.6bn non-profit annuity business to Canada Life and Part VII transfer of £1.8bn with-profits annuity business to Prudential.
We advised Prudential on the £13bn cross-border reorganization of its Hong Kong life and general insurance businesses.
We have advised two of the leading UK retail banks on numerous member-level and syndicate-level financings in the Lloyd’s market.
We represented a major U.S. insurer in connection with litigation and coverage disputes arising from the Madoff fraud.